Yubico - Initiation of coverage - One key to unlock them all

Just as Swedish industrial giants Ericsson (GSM) and Volvo (three-point safety belt) have defined open industry standards in the past, so today is Yubico, a technology pioneer and modern authentication leader spearheading secure login standards. Cybersecurity is a critical issue in 2024 and looks set to remain so for the rest of the decade, suggesting sustained and robust sales growth on underappreciated scalability. We believe this should allow the company to compress its current high multiples...